-Where did the market open in relation to the previous day's value and then what happened?
opened in lower extrem area, but rejected quickly in 1st period, rotate higher in 3rd period and rejected by responsive selling, PRICE STILL KEEP THE UPPER EXTENSION, 12AM BUYER STEP IN, this buying seems coming from public and extend range much higher , the correction to this move is less then half then followed by imediate buying, buying never give up and momentum getting stronger and stronger , fueled by short covering, market tilled to oneside at closing......
opened in lower extrem area, but rejected quickly in 1st period, rotate higher in 3rd period and rejected by responsive selling, PRICE STILL KEEP THE UPPER EXTENSION, 12AM BUYER STEP IN, this buying seems coming from public and extend range much higher , the correction to this move is less then half then followed by imediate buying, buying never give up and momentum getting stronger and stronger , fueled by short covering, market tilled to oneside at closing......
-What is the net activity - extremes, range extension, value area? Initiating or responsive?
no time for the market to correct the late extreme price movement, a short covering
-What is your conclusion ?
question the cause of the late move, the retracements today is bigger then genuine uptrend move, there will be a bigger correction to this extreme but depends on new information the market absorbs and if any upside follow through tommorrow
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